Today King World News spoke with Jonathan Haycock, partner at VON GREYERZ, who began his career as a barrister before moving on to work 27 years on Wall Street, finally ending his career as one of the longest serving Managing Director’s in history at Morgan Stanley in London.  And what he had to say about a world in chaos and the gold market was absolutely shocking.

Jonathan Haycock, who had a storied 27 year career on Wall Street is now warning about a world in chaos.

May 17 (King World News) – Eric King:  “I don’t think people understand, Jonny, just how cheap gold is.  Egon made a point when we were back at $1,700-$1,800, and he was telling people what they don’t realize is that today [at that time] at $1,700-$1,800 gold, with all the global money printing and everything that has happened [increased risk factors], gold was as cheap to buy then as it was when gold was $250.  Now shortly after Egon said that the price of gold doubled.

But in the big scheme of things when you look at gold it still has a long way to go in this bull market.  How many thousands of dollars will it be?  That depends on the level of fiat destruction in front of us.  What I can tell you is that if we mirrored the gold bull market of the 1970s, gold will go to $6,250.  

But having said that, the issue I have with that is the conditions globally are far worse than anything we witnessed in the 1970s.  We didn’t have derivatives.  We didn’t have the nightmare of derivatives that can implode and cause catastrophic financial earthquakes at any moment.  We didn’t have the massive global Debt/GDP that we are seeing in all developed countries today, Jonny.  And I’m not going to on and on and on, but what I’m saying is I think the scale of this gold bull market could potentially dwarf what we saw in the 1970s.”

“Trust is broken”
Jonathan Haycock:  “I totally agree, Eric.  You have to study history.  The old rules simply don’t apply.  You’ve got to understand that we’ve gone from this globalized world to a multi-polar world, and now a de-globalized world.  This all about protectionism now.  Trump says it himself, “America first!”  When everyone is out for themselves it’s a real risk.  Just imagine, Eric, if we had a great financial crisis today.  You cannot assume that the world would come together now in the way that it did in 2008 because trust is broken.  This is a very, very dangerous period, and virtually nobody today owns gold. 

And the trends are just so clear.  Look, we don’t give price targets on gold, you know that, we stopped doing that ages ago, it’s a mug’s game, but I always get asked it.  And this is just one way to think about it.  If you go back over the last 100 years, gold as a percentage of the foreign held portion of US federal debt, long-term, has averaged about 40%.  Today it’s only at 9%, despite a 40% rise in the gold price last year.  So there is no reason gold why gold can’t rise 4x from here [$14,200].  And by the way, that would assume, Eric, that there is no increase in debt from here.  Good luck with that.” Stop whatever you are doing and listen to this remarkable audio interview with Jonathan Haycock because nothing you read or listen to this weekend will top this one! CLICK HERE OR ON THE IMAGE BELOW.

One Of The Best Audio Interviews Of 2025!
To listen to Jonathan Haycock give one of the greatest interviews of 2025 CLICK HERE OR ON THE IMAGE BELOW.

Just Released!
To listen to Alasdair Macleod discuss the takedown in the gold and silver markets and what to expect next CLICK HERE OR ON THE IMAGE BELOW.

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